HomeMy WebLinkAbout2019-12-8607ORDINANCE 2019-12-8607
AN ORDINANCE AUTHORIZING THE MAYOR TO EXECUTE A
PROFESSIONAL SERVICES AGREEMENT WITH COMMONWEALTH ECONOMICS
PARTNERS, LLC IN AN AMOUNT OF $43,824.80 PLUS DIRECT EXPENSES IN AN
AMOUNT NOT TO EXCEED $4,000 FOR CONSULTING SERVICES RELATED TO THE
TAX INCREMENT FINANCING (TIF) PROGRAM FOR THE PADUCAH RIVERFRONT
DEVELOPMENT PROJECT
WHEREAS, the Board of Commissioners approved Municipal Order No. 2111
with Commonwealth Economics in an amount not to exceed $78,000; and
WHEREAS, it is now necessary to update the contract with Commonwealth
Economics for additional consulting services related to the Tax Increment Financing Program for
the Paducah Riverfront Development Project; and
WHEREAS, a written determination has been made by the City Manager that this
constitutes a professional services purchase and will be a noncompetitive negotiation purchase,
pursuant to KRS 45A.380(3).
NOW, THEREFORE, BE IT ORDAINED BY BOARD OF COMMISSIONERS
OF THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the Mayor is hereby authorized to execute a professional
services agreement with Commonwealth Economics Partners, LLC, for the Tax Increment
Financing (TIF) Program. This agreement supersedes and replaces the agreement with
Commonwealth Economics dated June 2018.
SECTION 2. This agreement shall be in the amount of $19,824.80 for services
rendered since June 2019, plus $4,000 per month not to exceed $24,000, for a total base contract
amount of $43,824.80 plus direct expenses in an amount not to exceed $4,000. This expenditure
shall be charged to the TIF Project No. DT0044.
SECTION 3. This ordinance shall be read on two separate days and will become
effective upon summary publication pursuant to KRS Chapter 424.
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Brandi Harless, Mayor
ATTEST:
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Lindsay Parish, q
Clerk
Introduced by the Board of Commissioners, December 10, 2019
Adopted by the Board of Commissioners, December 10, 2019
Recorded Lindsay Parish, City Clerk, December 17, 2019
Published by The Paducah Sun, December 25, 2019
\ord\plan\TIF Consultant Commonwealth Economics Dec 2019